NewEdge Wealth LLC Buys Shares of 173,346 Manchester United plc (NYSE:MANU)

NewEdge Wealth LLC acquired a new position in Manchester United plc (NYSE:MANU - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 173,346 shares of the company's stock, valued at approximately $3,533,000. NewEdge Wealth LLC owned 0.11% of Manchester United at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Citigroup Inc. increased its stake in shares of Manchester United by 4,255.3% in the first quarter. Citigroup Inc. now owns 3,310 shares of the company's stock worth $48,000 after acquiring an additional 3,234 shares during the period. Quantbot Technologies LP purchased a new stake in Manchester United during the third quarter worth $59,000. Tower Research Capital LLC TRC boosted its holdings in Manchester United by 1,267.9% during the third quarter. Tower Research Capital LLC TRC now owns 6,511 shares of the company's stock worth $86,000 after buying an additional 6,035 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Manchester United by 35.4% during the second quarter. Wells Fargo & Company MN now owns 4,872 shares of the company's stock worth $119,000 after buying an additional 1,275 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Manchester United by 126.7% during the second quarter. JPMorgan Chase & Co. now owns 14,624 shares of the company's stock worth $163,000 after buying an additional 69,461 shares in the last quarter. Institutional investors and hedge funds own 23.34% of the company's stock.

Analyst Ratings Changes

MANU has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Manchester United from $20.30 to $16.00 and set a "hold" rating on the stock in a report on Thursday, March 14th. StockNews.com raised shares of Manchester United to a "sell" rating in a report on Wednesday.

Manchester United Price Performance

MANU traded up $0.05 during midday trading on Friday, hitting $14.71. 748,943 shares of the company traded hands, compared to its average volume of 735,835. The company has a current ratio of 0.37, a quick ratio of 0.36 and a debt-to-equity ratio of 5.28. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -133.73 and a beta of 0.76. Manchester United plc has a 52-week low of $13.50 and a 52-week high of $26.64. The business has a 50 day simple moving average of $15.80 and a two-hundred day simple moving average of $18.08.

Manchester United (NYSE:MANU - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.32. The firm had revenue of $280.37 million for the quarter, compared to the consensus estimate of $245.09 million. Manchester United had a negative net margin of 1.98% and a negative return on equity of 12.29%. On average, equities analysts forecast that Manchester United plc will post -0.37 earnings per share for the current fiscal year.

Manchester United Company Profile

Manchester United plc, together with its subsidiaries, owns and operates a professional sports team in the United Kingdom. It operates Manchester United Football Club, a professional football club. The company develops marketing and sponsorship relationships with international and regional companies to leverage its brand.